Cairo – Mubasher: Oriental Weavers Carpet’s board recommended a cash dividend distribution of EGP 620.76 million for 2017.
The board proposed retaining profits of about EGP 173.49 million for 2019, the company said in a filing to the Egyptian Exchange (EGX) on Sunday.
The carpet manufacturer is projected to distribute dividends of around EGP 1.4 per share to shareholders, according to Mubasher statistics.
The EGX-listed firm also posted a 40% year-on-year surge in consolidated profits for 2017, as net profit stood at EGP 741.7 million last year from EGP 528.9 million.
Oriental Weavers’ capital amounts to EGP 450 million distributed over 450 million shares at a par value of EGP 1 per share.
